Safaricom has extended its M-PESA Global solution to Ethiopia in order to allow customers to make mobile money transactions from Kenya to Ethiopia. Following this announcement, the two companies aim to increase mobile money use and penetration across the region of Ethiopia, as well as boosting local economies and creasing new opportunities for individuals, businesses, and institutions across the country.

In addition, the the expansion will also focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry as well. More information on the Safaricom x M-PESA Global expansion Throughout this initiative, the companies aim to optimise the strategy of delivering secure and efficient financial solutions that cater to the evolving needs of the market. By making cross-border transfers more accessible and cost-effective, the partnership aims to give individuals and businesses improved opportunities in the region.

Customers and clients in M-PESA Kenya will be enabled to make mobile money transfers to M-PESA Ethiopia via the M-PESA International Remittance. In addition, users in both countries will need only their M-PESA wallets for the process to take place. The partnership comes at a time where the foreign exchange policy reforms made by the National Bank of Ethiopia (NBE) encourages a growing number of Ethiopian diaspora and business owners to embrace digital payments.

This expansion of M-PESA Global to Ethiopia represents a significant step in the process of strengthening financial integration in East Africa and promote economic development. M-PESA customers will also have the possibility to send and receive money to over 190 countries, while the product will also cater for both individual and corporate transactions. .